Published on 26 Jan 2023 on Zacks via Yahoo Finance
Silver ETFs Likely to Record Huge Upside in 2023
Silver has underperformed greatly in 2021 and lost moderately in 2022. However, Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold, analysts told CNBC. The last time spot silver hit $30 levels per ounce was in February 2013, according to closing price data from Refinitiv, per CNBC. Cheaper valuation of the metal will also likely to fuel the rally.
Below we highlight a few reasons that can drive silver up in 2023.
Inflationary Pressure